NewsIPOBVG India Files for Rs 300 Crore IPO, Strategic Investment Group Among Selling ShareholdersBVG India Files for Rs 300 Crore IPO, Strategic Investment Group Among Selling Shareholders
BVG India Ltd., an integrated facility management services provider, has filed for an IPO to raise up to Rs 300 crore through fresh equity shares. The IPO includes a fresh issue and an offer for sale of 28,548,007 equity shares from existing shareholders. Strategic Investment Group and Chairman Hanmantrao Gaikwad are among the key selling shareholders. The company plans to use Rs 250 crore to repay debt. BVG India operates across 2,218 sites with over 85,000 employees, serving more than 1,200 clients in 188 cities. The company reported a consolidated revenue of Rs 3,301 crore (16% YoY growth) and a net profit of Rs 207 crore (27% YoY growth). ICICI Securities, JM Financial, and Motilal Oswal Investment Advisors will manage the IPO.
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BVG India Ltd., a prominent integrated facility management services provider, has taken a significant step towards going public by filing for an Initial Public Offering (IPO). The company aims to raise up to Rs 300 crore through the issuance of fresh equity shares, marking a notable development in the Indian stock market.
IPO Details
The IPO structure includes both a fresh issue and an offer for sale (OFS) component:
- Fresh Issue: Up to Rs 300 crore
- Offer for Sale: 28,548,007 equity shares from eight existing shareholders
Key Selling Shareholders
Among the selling shareholders, two notable entities stand out:
Strategic Investment Group: This US-based firm, which manages assets worth $38 billion, holds nearly 27% stake in BVG India and will participate in the share sale.
Hanmantrao Gaikwad: The Chairman and Managing Director of BVG India, who currently owns a substantial 54.87% of the company, will also offload a portion of his shares.
Use of Proceeds
BVG India has outlined its plans for the IPO proceeds:
- Rs 250 crore will be allocated towards repaying debt
- The company's total outstanding borrowings stood at Rs 820 crore
Company Overview
BVG India has established a strong presence in the facility management services sector:
- Operations across 2,218 sites
- Workforce of over 85,000 employees
- Serves more than 1,200 clients
- Presence in 188 cities across India and Saudi Arabia
Financial Performance
The company has demonstrated robust financial growth:
| Metric | Value | YoY Growth |
|---|---|---|
| Consolidated Revenue | 3,301 | 16% |
| Net Profit | 207 | 27% |
Note: Financial figures are in Rs crore
IPO Management
The public offering will be managed by a consortium of reputable financial institutions:
- ICICI Securities
- JM Financial
- Motilal Oswal Investment Advisors
These firms will serve as the lead managers for the IPO, guiding BVG India through the listing process.
The IPO filing by BVG India represents a significant move for the company, potentially providing it with the capital needed for debt reduction and future growth initiatives. As the IPO process unfolds, investors and market watchers will likely keep a close eye on this emerging player in the facility management services sector.
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